Breaking news breaking news: it turns out that the reason the market has been taking such a poop is that printer man had accidentally shut off his printer - oh god holy god pop shake it dude that happens. That was the best of us. What can you do? What can you do guys? The market today had some freaking uh boom boom candles, some ripping heads off of uh bodies, that's nasty 2.07 percent green day for the spy. You can only anticipate that uh.

There was some some inside word regarding this right here. Congressional leaders reached deal to allow debt ceiling increase and this rubbed off on the entire market uh pretty. Consequently, but you know what, as long as the can gets kicked down the road further, you know why not celebrate. I guess the the grave not being done quite yet guys welcome back to trey's trades good to have you here.

As always, i'm gon na find somebody not financial advice. Do what you got ta do we're gon na give you an update on ticker symbol, uh amc. As per the usual. I got titan shield over here on my right.

I have a piece of paper up here on my left as well with my glasses. I probably should wear these. I always forget fun story. I had black ones uh, but i stepped on them uh.

I think ty knocked him off my nightstand. He loves knocking stuff off his cats always do, but we had a pretty solid day today. We're up 7.82 percent down a little bit here in the after hours, not a significant amount, but i am pretty excited about the bounce out of this quadruple bottom. I guess the devil.

George at the 27 range right. That's a pretty nice thing to see that could ultimately bring us up to some some new higher higher highs off of this. This bottom that we did see so we're gon na go over ortex data first and foremost, because we did see a change here in the data now check this out 18.63 current short interest of free float. That was released as a 24 november, which just basically means you saw a lot of shorting take place today.

1.54 million share net difference and borrow change, which is a good thing to see, and the utilization is starting to creep up a little bit not worth looking at yet don't get hyped about that number right. What i'm excited about is that current short interest of free flow being the number that it is why that is exciting to me, is because of a pretty simple thing check out. The exchange reported short interest crimsing at 18.35 18.63. Actually, the highest has been is 20.57 and at the time, if you check out the utilization, what did you see it at right? 85 right now we're at 70, something we saw at a 100 utilization back when the short interest was much much lower 17.88, which leads you to believe that there's a lot of lending taking place uh from big institutions, now kind of think about this right.

Let's just think about for a second amc, institutional ownership. I've talked about this briefly, but you're gon na be able to really conceptualize and picture this by simply looking at what i'm about to show you right now, look at all the recent buyers that have stepped into amc, probably the most notable as i've talked about before - Is vanguard with 4.2 million shares now you stack all these different share amounts these allocations together, and what do you get right? A crapton of institutional owned shares now? What are they doing with these shares? What do institutions do with shares? What do banks do with shares? They lend them out right. This brings me back to the vortex data. What do you see right here, a low utilization 76.81 and you compare that to the very high utilization, meaning that at the time there are basically no available shares to borrow.

There are no available shares to short what this means is that there's a crap ton of ammunition for shorts to stack into a position. That's a good thing to see because, as we've talked about before, all this does is lure in more of these dumb chickens, to uh, to basically try and bet against something that, i think is is practically inevitable right. Speaking of chickens. By the way i am going to have to wear a chicken costume because of this freaking vikings, l, i'm gon na show you this really quick.

I just think this is uh an interesting thing. Alpaca tweeted this out, if you wan na check him out here, he is but this is coming in the mail. It should be here on december. Ninth, so uh, i'm gon na have to wear that and hold up a sign for an hour on the on the busy street here in town that says uh i am a silly chicken that'd be a good time, but nonetheless right.

This brings me back to what we were talking about. That's a good thing to see. I'm very happy with that costs bar is still low right. You want to see that number go up and there are still a decent amount of shares available to borrow and a decent amount of chairs available to shore so uh.

I want to see all these values sort of line up, you're, looking for confirmation boxes and this high short interest is a box, but utilization and the cost bar are gon na, be the next two that i'm looking for so uh. We keep stepping stepping forward. You wait for that glorious day and we bring ourselves over here to the chart. Now.

What is the chart telling us i had talked about previously? This is a pretty solid set up for a reversal uh, this 27 quadruple bottom and there were two different levels that i had marked off here. Essentially, you have a downward level of resistance, a downward level of resistance, a previous channel that amc was trading in pretty religiously for a good amount of time, and now it is broken above both of those speed lines and rejected off of a demand zone. Now, what is a demand zone well for all of the smooth brand apes out there? A very simple way to put it is these are spots in which you can see algorithms and computers uh, basically programmed to buy and sell stock at specific levels and they're pretty well respected, uh, with with amc stock in particular. Where did this come from right? Well, let's just back this up i'll show you this on a four-hour candle, uh and i'll.

Show you exactly what i mean check this out previously, acting as a supply zone, a spot or a demand zone. I should say this would bounce back to the upside right bounced off bounced off bounced off. This is essentially a spot where you can expect volatility and buying pressure to push yourself back up, and if you trade beneath that box right that demands on box now acting as a supply zone, you can see it rejected off of that specific level right, a break Above that should bring a pretty decent move up to. What i would anticipate is that 36 dollar range.

That's pretty nice, that's pretty nice! Now you are still looking for a continuation of trend, but i do like a couple different things here and i want to show you exactly what i'm talking about volume volume is starting to follow through on this reversal move and it has not died back down. That's important because that shows you that there are still buyers interested in bringing the price up from that. 28. 29.

30. Dollar range. That's significant right! It's a lot different than trading very low volume, as we've seen for a significant amount of time. Don't get this twisted right? I think it's actually important to have low volume uh comparatively to what we've seen in the past for a really solid next leg up right.

But this bottom reversal, for the volume to continue to follow through to me, is a good bullish. Sign here's an example right. I want to show you something that i talked about today in my discord. Nvidia right, nvidia, very good sign of a reversal for me, is what i would call a closing bar of volume, essentially, a borrowed volume that is significantly higher than previous day's volume check this out right at moderate volume.

It's higher in comparison. What we've seen here in the past, but this specific bar on this huge hammer, doji candle, i shouldn't, say doji but hammer candle, bottoming tail candle right. That shows me a significant amount of information that hey yes, there are buyers that decided to step in today and reverse the market off of that previous whoa. In the same way, right, you could say the same thing about amc.

Look at this huge freaking hammer candle! This huge bottoming tail candle, closing bar volume significantly higher than any previous day, showing you that buyers decided to step back in and hold the price at that level. Now it did come back down the next day, but you can see the significance of this in the grand scheme of things that volume is holding through very, very strong and that's important to see in terms of getting that reversal and a move back up to uh. Some bullish territory, so that's what i'm watching for next is a break over what is currently acting as a supply zone. I'm going to mark this box red just so you can see exactly what i'm talking about.

If you want to come back to this, you can, but that level in specific uh numbers is between 31.80 and about 33 and 30 cents and you'll know, because it's going to knife straight through that box to the upside. If it's going to break through it tomorrow, thursday friday, whatever right and the grand scheme of things, you're not worried about uh the day-to-day price action, if you are simply holding the stock, if you are trading options right, do what you got to do, uh make your Own decisions: do your own research come up with your own conclusions, but i am very happy with this this bottom. That is the takeaway for me here today, as i do think that you're pretty decently close to a reversal on the overall position and it did get a break over two: pretty harsh uh downward trending uh speed lines. So i'm pretty happy with that.

Well, that's what i've got for this video there's really not much to touch on here today. I just want to give you a touch based sort of situation. The last thing i've got to say is that i am going to be in dallas on saturday. I've talked about it previously, but i am working on a one-year anniversary, video special to get back to uh, to get back and sort of give you guys some fun content uh for one year of the of the channel, which i think is pretty cool uh.

We are gon na be doing a meet-up in dallas i'll show you the specific tweet here just so you can check it out if you are interested in coming uh at 2 p.m, central standard time the exact location is at a park. I can't remember the name of the park, but it is on here uh clyde warren park at 2 p.m, central standard time. So if you'd like to be there it'll be on saturday i'd love to meet some people i'll, be there for an hour or two and that's what i've got for the freaking videos. So i will catch you guys on the next one.

Titan is finally calm down. He is really just not liking franklin, but we're going to get him we're going to get him there we're taking our time we're acclimating them slowly. Yeah peace.